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Author | Topic: National Budgets and Budget Deficits | |||||||||||||||||||||||
GDR Member Posts: 6202 From: Sidney, BC, Canada Joined: Member Rating: 2.2 |
I few years back Canada was running a deficit and going further into debt. It became a big issue here for all parties and we now have been running surplus budgets and paying down the debt for years. As a result our dollar has gone from the mid 60's up to around par (it peaked at 1.10) with the US dollar.
I hardly ever seem to hear anything by any of the candidates about the huge deficit that is being run by the US govt., let alone the mountain of debt including foreign debt that is accumulating.(Except Ron Paul and he isn't going anywhere.) There is the usual talk about cutting spending but nobody is suggesting that they will bring in a balanced budget, unless I'm missing something which is always possible. Doesn't anybody think this is a problem? {Note: This new topic message 1 is from message 103 of the "Your prediction about outcome of Super Tuesday" topic. - Adminnemooseus} Edited by Adminnemooseus, : Change "Devicits" to "Deficits" in topic title. Edited by Adminnemooseus, : See note above. Everybody is entitled to my opinion.
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GDR Member Posts: 6202 From: Sidney, BC, Canada Joined: Member Rating: 2.2 |
Hello again Taz.
I would agree that there are a group of Christians in the US that will always vote with a Christian that they believes shares their beliefs. There are also those who wouldn't ever vote for someone like Bush because of his beliefs. Frankly, when I vote I want the best person for the job. I wouldn't support Huckabee as I don't see getting rid of the IRS as the solution to getting rid of the deficit. Looking backwards by pointing the finger at Bush isn't a solution. Sure he took the problem of deficit spending and made the problem far worse. In this election you are looking at the future and blaming Bush isn't a solution. How is that going to help the fututre of your kids. Where is the will by any of the candidates to put out a platform that outlines how they would reach a balanced budget? It is just the elephant in the room that nobody seems to talk about. Ron Paul does but the other candidates treat him with derision. All of the candidates talk about how they are going to spend money on things like health care, Iraq etc. They only speak in very general terms about reducing expenses. None of the major candidates have the guts to say that there is a major problem that we have to address and here's how I would do it. Everybody is entitled to my opinion.
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GDR Member Posts: 6202 From: Sidney, BC, Canada Joined: Member Rating: 2.2 |
Some day these chickens are going to home to roost.
MSN | Outlook, Office, Skype, Bing, Breaking News, and Latest Videos U.S. deficit running at twice last year'sFederal spending also rising at faster pace than last year Everybody is entitled to my opinion. |
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GDR Member Posts: 6202 From: Sidney, BC, Canada Joined: Member Rating: 2.2 |
obvious child writes: Americans are dumb. There are still people who think that supply side economics is a good idea. Well as a Canadian let me say I disagree with the first part of your statement and as for the second part I can't see where supply side economics has anything to do with it. It doesn't matter what economic philosophy you believe in. Spending more than you earn is just not a good thing whether it be in your household or your country. Everybody is entitled to my opinion.
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GDR Member Posts: 6202 From: Sidney, BC, Canada Joined: Member Rating: 2.2 |
chiroptera writes: Probably because no one has ever heard anyone actually explain what the problem with increasing deficits are, just that is is "bad" for some reason. It seems to me that my approach is about as simplistic as it gets. Deficits just mean accumulating and accelerating debt. High levels of debt that you don't have the income or the reserves to cover just ain't good. Everybody is entitled to my opinion.
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GDR Member Posts: 6202 From: Sidney, BC, Canada Joined: Member Rating: 2.2 |
obvious child writes: Or that the remaining republicans who haven't jumped ship may still believe that "deficits don't matter."Most people just don't understand macro economics and how it relates to international relations. So we ignore them for issues like gay marriage. Seriously. But spending is spending whether it is subsidies to businesses or individuals, a war in Iraq, or a universal medicare plan. I don't see it as just a Republican issue. I can't see either party addressing the issue. Everybody is entitled to my opinion.
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GDR Member Posts: 6202 From: Sidney, BC, Canada Joined: Member Rating: 2.2 |
obvious child writes: Fine. Humans are stupid. Supply side economics are largely the reason why the debt is where it is now. Under Reagan, the debt skyrocketed. Bush Sr tried to stop it and Clinton went to back to Keynes, but Jr started it all up again. The debt is almost 100% of the US GDP. Republicans still back that logic despite history saying they are completely wrong and that their applied models make things worse. They just don't understand. Supply siders believe that if you cut taxes and give money back, that will result in more taxation revenue as more business is created. Not an bad idea in theory, but Congress has shown it is incapable of cutting spending at the same time. Thus we end up with huge outflows and smaller inflows. So no, they do believe that spending more then you take in is an good idea. I'll buy all of that. I agree that supply side econmics is a good theory but not to the point that you run into deficit. Everybody is entitled to my opinion.
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GDR Member Posts: 6202 From: Sidney, BC, Canada Joined: Member Rating: 2.2 |
Taz writes: GDR, you didn't actually answer him at all. Actually he didn't ask a question. It was just a comment. As for the rest of your post I agree except to point out that in this case the result so far has been a depreciation of the US dollar without causing runaway inflation. However it seems to me that as the cost of all your imports go up inflation is going to be a problem sooner or later. Everybody is entitled to my opinion.
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GDR Member Posts: 6202 From: Sidney, BC, Canada Joined: Member Rating: 2.2 |
nator writes: What has happened in the rightward swing of the country over the last several decades is that the mainstream Democrats have taken the place that used to be held by the moderate Republicans like Nixon and Goldwater. The NeoCons are really advocates of extremely liberal policies in a sense, in that they have created an enormously powerful, huge federal government, spend far more than they have, and enact laws which restrict individual freedom and seek to legislate morality. I'm not at all sure that I agree with the statement about restricting freedom and legislating morality, but I agree that they have been very liberal when it comes to increasing the size and cost of government. The point though is I as I stated in the OP there isn't one major candidate that is prepared to make a balanced budget a priority. We want to learn from the past but it is the future that matters now. McCain and Huckabee want to increase military expenditures in Iraq and Clinton and Obama talk about increasing spending domesticaly in areas like health care. There are only proposals about how to spend money that in one sense doesn't even exist. They just want to print more of it. Ron Paul talked about it but he was ignored. Everybody is entitled to my opinion.
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GDR Member Posts: 6202 From: Sidney, BC, Canada Joined: Member Rating: 2.2 |
Look at this list from a CIA site of the current account balances of countries around the world satrting with China as number 1 and ending with the US at number 163.
https://www.cia.gov:443/...-factbook/rankorder/2187rank.html Something is going to have to give at some point. Everybody is entitled to my opinion. |
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GDR Member Posts: 6202 From: Sidney, BC, Canada Joined: Member Rating: 2.2 |
I realize that Glenn Beck is a right wing commentator but I think that this comment of his is not a left vs right issue at all. It is a common sense issue and once again I don't hear any of the 3 remaining candidates dealing with this issue.
quote: Edited by GDR, : No reason given. Everybody is entitled to my opinion. |
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